Contractual Disclosure Facility: A change of tack As detailed earlier the new tax investigation procedures called the contractual disclosure facility are introduced on 1 February 2012 and replace the civil investigation of fraud procedures. The contractual disclosure facility will still be a tax investigation where HMRC suspect serious tax fraud and code of practice 9…
Harry Redknapp’s trial over charges of tax evasion/tax fraud begins today.
Mr Redknap faces two counts of cheating the public revenue after allegedly receiving two large payments from Milan Mandaric who also stands accused of tax fraud. It is reported that the first charge for tax fraud alleges that between April 1, 2002, and November 28, 2007, Mandaric paid $145,000 into a bank account held by…
HM Revenue & Customs (HMRC) announce tougher procedures for civil fraud tax investigations.
HMRC’s new Contractual Disclosure Facility (CDF) will be launched on 31 January 2012, and follows consultation with interested parties in the autumn. Under the new facility, HMRC will contact a taxpayer, in writing, to inform them that they are suspected of serious tax fraud, and offer them the opportunity to enter into a contract to…
Tax Investigations: HMRC target Electricians they suspect of tax fraud
Electricians Tax Safe Plan (ETSP) Electricians are the next targeted group to be offered a tax amnesty to declare unpaid taxes, following an announcement by HMRC, which is due to start in February 2012, aimed at bringing in revenues from tax avoidance and tax evasion. This tax evasion disclosure opportunity from the Inland Revenue (HMRC)…
Tax Investigation Yield at all time High
The most recent information about the additional funds generated by HMRC as a result of tax investigations show that a recorded £16.5 billion has been reported by HMRC as the tax, interest and penalties generated as a result of tax investigations into tax avoidance and evasion. The statistics are reported to show that the biggest…
HMRC Tax Investigation: A Sick Note for Doctors?
In the next month it is expected that about 2,500 doctors and medical practitioners will find the dreaded brown envelope from HMRC on their doormat. For many this will be a stomach churning experience, for others the start of a frustrating episode as HMRC have decided to launch a tax investigation of their tax affairs….
Tax Investigation; Online traders: the next tax amnesty?
Following HMRC’s recent announcement of the Tax Catch Up Plan (TCup) aimed at lecturers, tutors and coaches in the academic, sport, leisure and music industry, the next group of traders to be offered a tax amnesty to declare unpaid taxes as a result of tax evasion are tipped to be traders who run online businesses…
Tax Catch Up Plan (TCup): Lecturers, Tutors & Coaches
Lecturers, tutors and coaches are the latest group to be offered a tax amnesty to declare unpaid taxes. This disclosure opportunity from the Inland Revenue (HMRC) will give those and other taxpayers the chance to deal with any tax evasion issues. Details Under the Tax Catch Up Plan (TCup), not only lecturers, tutors, coaches and…
HMRC targets Swiss bank accounts
It has been announced today that HMRC is writing to 6,000 people and organisations with Swiss bank accounts giving them a final chance to disclose any tax owed or face investigation. The letters tell people there is a window of opportunity to come forward and disclose tax liabilities to HMRC. It is reported that HMRC…
Tax Investigations: Principle Private Residence Relief and Stamp Duty
HMRC have invested in a computer programme combining information from valuation office about the purchase and sale of properties, council tax payments and records and stamp duty records. This system allows HMRC tax investigation specialists to access the system and use various search terms including the names of purchasers to obtain a list of properties…
